Algeria Delays Oil Bids to September 30

Source: Reuters 8/28/2014, Location: Africa

Algeria has accepted a request by foreign energy companies to push back the opening of bids for its new oil and gas round to the end of September, the second delay since the launch of bidding, energy officials said on Thursday.

In January, Algeria launched an energy bidding round with 31 fields on offer, setting bids opening for August 6.

In June, ALNAFT, the energy agency handling bids, said the round would be delayed until September 4. It said then that some foreign firms had asked for more time to assess the potential of all the fields.

"It has been delayed again at the request of our partners," an official involved with the bid handling told Reuters.

Bids opening will now take place on September 30, while contracts are due to be signed on October 30, he said.